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Datadog (DDOG) Stock Falls Amid Market Uptick: What Investors Need to Know
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Datadog (DDOG - Free Report) closed the most recent trading day at $109.04, moving -6.4% from the previous trading session. The stock trailed the S&P 500, which registered a daily gain of 0.62%. Meanwhile, the Dow experienced a rise of 0.58%, and the technology-dominated Nasdaq saw an increase of 0.83%.
Prior to today's trading, shares of the data analytics and cloud monitoring company had lost 8.62% lagged the Computer and Technology sector's gain of 2.41% and the S&P 500's gain of 0.8%.
Investors will be eagerly watching for the performance of Datadog in its upcoming earnings disclosure. The company is expected to report EPS of $0.5, up 8.7% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $956.97 million, indicating a 25.66% growth compared to the corresponding quarter of the prior year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $2.12 per share and revenue of $4.08 billion, indicating changes of +3.41% and +19.17%, respectively, compared to the previous year.
Investors should also note any recent changes to analyst estimates for Datadog. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Datadog currently has a Zacks Rank of #3 (Hold).
Investors should also note Datadog's current valuation metrics, including its Forward P/E ratio of 54.87. For comparison, its industry has an average Forward P/E of 18.39, which means Datadog is trading at a premium to the group.
It's also important to note that DDOG currently trades at a PEG ratio of 4.75. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The average PEG ratio for the Internet - Software industry stood at 1.03 at the close of the market yesterday.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 141, which puts it in the bottom 43% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Datadog (DDOG) Stock Falls Amid Market Uptick: What Investors Need to Know
Datadog (DDOG - Free Report) closed the most recent trading day at $109.04, moving -6.4% from the previous trading session. The stock trailed the S&P 500, which registered a daily gain of 0.62%. Meanwhile, the Dow experienced a rise of 0.58%, and the technology-dominated Nasdaq saw an increase of 0.83%.
Prior to today's trading, shares of the data analytics and cloud monitoring company had lost 8.62% lagged the Computer and Technology sector's gain of 2.41% and the S&P 500's gain of 0.8%.
Investors will be eagerly watching for the performance of Datadog in its upcoming earnings disclosure. The company is expected to report EPS of $0.5, up 8.7% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $956.97 million, indicating a 25.66% growth compared to the corresponding quarter of the prior year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $2.12 per share and revenue of $4.08 billion, indicating changes of +3.41% and +19.17%, respectively, compared to the previous year.
Investors should also note any recent changes to analyst estimates for Datadog. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Datadog currently has a Zacks Rank of #3 (Hold).
Investors should also note Datadog's current valuation metrics, including its Forward P/E ratio of 54.87. For comparison, its industry has an average Forward P/E of 18.39, which means Datadog is trading at a premium to the group.
It's also important to note that DDOG currently trades at a PEG ratio of 4.75. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The average PEG ratio for the Internet - Software industry stood at 1.03 at the close of the market yesterday.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 141, which puts it in the bottom 43% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.